B. A VAT registered business provided us its data in 2021: Gross Sales Price on the following items: a. Sales of Merchandise b. Merchandise given to creditors in payment of debts c. Property Dividend to stockholders d. Goods taken by the owner of personal use Purchases and payments for the period: a. Purchases of merchandise b. Payment of PLDT c. Purchase of furniture (VAT included) d. Security Guard Services (non-VAT business) Required: Compute the VAT Payable. P 440,000 28,160 33,000 17,600 P 165,000 1,980 2,000 5,000

B. A VAT registered business provided us its data in 2021: Gross Sales Price on the following items: a. Sales of Merchandise b. Merchandise given to creditors in payment of debts c. Property Dividend to stockholders d. Goods taken by the owner of personal use Purchases and payments for the period: a. Purchases of merchandise b. Payment of PLDT c. Purchase of furniture (VAT included) d. Security Guard Services (non-VAT business) Required: Compute the VAT Payable. P 440,000 28,160 33,000 17,600 P 165,000 1,980 2,000 5,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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